EUR/JPY – 30M – BUYThe pair Euro/Japanese Yen (EUR/JPY) goes from the descending trendline upwards
An ascent up to the next resistance level at 163.18400 is expected.
Caution: A possible change in the direction of the support line at 161.38200 could happen.
Consider stop-loss settings accordingly.
Also there is a ‘Two-Candle Shooting Star’ candlestick pattern is existing. The candles show ‘Two-Candle Shooting Star’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two-Candle Shooting Star’ heading down is 61% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.80500 |
| 2nd High | 163.50600 |
| Next High | 163.18400 |
| Current Price | 161.52900 |
| Next Low | 161.38200 |
| 2nd Low | 160.89500 |
| 3rd Low | 159.80200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Two-Candle Shooting Star